SBP reserves drop $15m to $12.99bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell 0.12pc on a weekly basis, according to data released by the central bank on Thursday.

On January 22, the forex reserves held by the SBP stood at $12,998.4 million, down $15 million compared with $13,013.8 million in the previous week. The central bank gave no reason for the decrease in reserves.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,106.5 million. Net reserves held by banks amounted to $7,108.1 million.